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. >> dana: i have something also about the fiscal cliff. something you haven't heard about is rural america is under threat from a major raise in taxes. death and state taxes. throw up the map. senator from wyoming put this out. 526,421 family farms threatened by the new death tax. mostly because assets are tied up in land. you're land rich and cash poor. this hurts a lot of people. >> greg: this plays in the old phrase buying the farm. >> dana: it plays in something i want to tease for friday, which is i am -- i got to buy the farm. get it. think we haven't heard that. >> bob: promote something? >> dana: on friday, tomorrow i'm going to vegas and i'm going to the national rodeo -- the national finals rodeo sponsored by wrangler. i went last year and i got to interview the rodeo queen. the new rodeo queen this year and talk to a few other people and chance to go to the rodeo and see my family. >> eric: that's nice. >> dana: that's it? "that's nice." >> kimberly: it sundays fun. you know how to ride a horse. >> bob: ride a bull. >> dana: we
. >> dana: i have something also about the fiscal cliff. something you haven't heard about is rural america is under threat from a major raise in taxes. death and state taxes. throw up the map. senator from wyoming put this out. 526,421 family farms threatened by the new death tax. mostly because assets are tied up in land. you're land rich and cash poor. this hurts a lot of people. >> greg: this plays in the old phrase buying the farm. >> dana: it plays in something i want to...
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Dec 13, 2012
12/12
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i think we are coming up again at the end of the year, people looking at the fiscal cliff situation and everyday we get something different coming out of washington today, disagreement. tomorrow it could be sounds like talks are progressing. we can see things slip around staying in this broad range across a series of markets and i think he will continue to see that until yo they get some kinf definitive answer and direction out of d.c. we will go from economic standpoint and getting money to work in the most efficient way. liz: good to see you gentlemen, thank you very much. never gets boring around here on fox business lackluster retail sales from the fed announcement yesterday turning on the stick is beginning next month painted the market red leaving me wondering if high investors, the smart money might be changing their investment strategy. we thought we would bring in, millions of dollars, they want to see the money grow. joining us in a fox business exclusive. you seem like a very measured person, that is why you have a lot of wealthy clients because you must do well for them. aft
i think we are coming up again at the end of the year, people looking at the fiscal cliff situation and everyday we get something different coming out of washington today, disagreement. tomorrow it could be sounds like talks are progressing. we can see things slip around staying in this broad range across a series of markets and i think he will continue to see that until yo they get some kinf definitive answer and direction out of d.c. we will go from economic standpoint and getting money to...
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Dec 12, 2012
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>> the fiscal cliff is something he will talk about, say they have to solve this. he's talked before about the upside and said twice already the federal reserve cannot off-set the effects of the fiscal cliff. the fed could -- one idea -- the fed could keep a little bit of powder dry if we do go off the cliff, the fed has something it could do. >> mike duke last night the ceo of walmart spoke and he sa said -- they poll their shoppers all the time. a week before the election, 25% of walmart customers knew about the fiscal cliff. one week after the election, 75% of their shoppers know about the fiscal cliff and 15% say it means they will spend less on christmas. it's pre-telling, right? >> apparently the walmart shopper is more informed than the average american. we showed 70%. that's out there. it's something that affects people. it was clear in the data there was an effect of the fiscal cliff on overall economic attitudes. the more important thing we found is that it affects businesses and businesses slow down in capital spending. you're an economic student and you
>> the fiscal cliff is something he will talk about, say they have to solve this. he's talked before about the upside and said twice already the federal reserve cannot off-set the effects of the fiscal cliff. the fed could -- one idea -- the fed could keep a little bit of powder dry if we do go off the cliff, the fed has something it could do. >> mike duke last night the ceo of walmart spoke and he sa said -- they poll their shoppers all the time. a week before the election, 25% of...
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Dec 12, 2012
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. >> coming up, the last fed decision of the year and the final one before the fiscal cliff deadline. stay tuned for breaking news coverage of the fed decision on interest rates. it's a cnbc special report, and it's starts after this short break. but we can still help you see your big picture. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place. i'm meredith stoddard and i helped create the fidelity guided portfolio summary. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. ♪ ♪ ♪ [ male announcer ] while you're getting ready for the holidays, we're getting ready for you. tis the season. for food, for family, and now, something extra -- for you. come pre-filled with problems. enough is enough. introducing the chase liquid reloadable card. with chase liquid, there's no waiting and no fee to activate you can load cash and checks at any chase depositfriendly atm and th
. >> coming up, the last fed decision of the year and the final one before the fiscal cliff deadline. stay tuned for breaking news coverage of the fed decision on interest rates. it's a cnbc special report, and it's starts after this short break. but we can still help you see your big picture. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place....
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cliff. you can tell the pentagon is scaling back. today it became the triangle. [ laughter ] you know there's a teacher at home going yes! my math teacher. exactly. he learned something. and finally an entrepreneur in colorado has crafted an ice cream that's infused with marijuana. [ cheers ] which is why when you go to put in the freezer, it's like, "i'm already chill, man." [ laughter ] we got a great show for you tonight. give it up for the roots! [ cheers and applause ] ♪ >> jimmy: hey! we are in a great mood here at "late night." the grammy nominations were announced last night. i want to say congratulations to the roots! [ cheers and applause ] ♪ their album "undun" got nominated for best rap album. how cool is that? [ cheers and applause ] the greatest band in late night. but that's not all. [ drum roll ] our record "blow your pants off" got nominated for best comedy album! [ cheers and applause ] ♪ i'm so excited. i was freaking out last night. i couldn't sleep. oh, my god. thi
cliff. you can tell the pentagon is scaling back. today it became the triangle. [ laughter ] you know there's a teacher at home going yes! my math teacher. exactly. he learned something. and finally an entrepreneur in colorado has crafted an ice cream that's infused with marijuana. [ cheers ] which is why when you go to put in the freezer, it's like, "i'm already chill, man." [ laughter ] we got a great show for you tonight. give it up for the roots! [ cheers and applause ] ♪...
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Dec 13, 2012
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the fiscal cliff comments appear to be the new greek rumor comments. every time something comes out, much like rumors out of greece. >> you guys hopeful on the floor that we get a deal sometime soon? >> you may not get a finalized deal but you'll get something done before the year end which will give us confidence to keep the market stabilized. >> members of the house tomorrow go home tomorrow for christmas. can you get a deal if they are home? >> i think you can. i think it's a little more di
the fiscal cliff comments appear to be the new greek rumor comments. every time something comes out, much like rumors out of greece. >> you guys hopeful on the floor that we get a deal sometime soon? >> you may not get a finalized deal but you'll get something done before the year end which will give us confidence to keep the market stabilized. >> members of the house tomorrow go home tomorrow for christmas. can you get a deal if they are home? >> i think you can. i...
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Dec 10, 2012
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whether it's the fiscal cliff, the fed meeting. what are the proceed right now? >> we've got bob from s&p capital iq. steven wood and gordon shallop. great to have you all on the show. you normally get the priority of speaking first. what are you doing right now? >> right now we're anticipating for volatility. we knew it was going to be a volatile fourth quarter. there's a lot of policy induced volatility. that said, the economy in the united states has not changed that much. it's grinding along. that recovery we've been talking about for a long time. so it's measurably positive, not robustly positive. that's kind of doing battle with just about offsetting some of the policy risk. >> the fear is all that changes if we go over the cliff. >> it would. right now the forecast is there's some compromise. there's a short-term compromise. they buy time. and they use that to get the silhouette of a grand bargain. if they use the time well, the markets could like that. if we do go off the cliff, that's 8% of gdp. >> what's your expectation, bob? >> we put out a research s
whether it's the fiscal cliff, the fed meeting. what are the proceed right now? >> we've got bob from s&p capital iq. steven wood and gordon shallop. great to have you all on the show. you normally get the priority of speaking first. what are you doing right now? >> right now we're anticipating for volatility. we knew it was going to be a volatile fourth quarter. there's a lot of policy induced volatility. that said, the economy in the united states has not changed that much....
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Dec 6, 2012
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how are you navigating this anticipation of the fiscal cliff and beyond? >> i think ben is on to something in terms of the effectiveness of it. over the last few years, monetary policy was a catalyst to move money into the marke on a capital allocation basis. you saw the jolt in the market, then it plateaued. heading into next yeerar, monety policy becomes part of the base. the jolt is fiscal policy. a little transparency on that front. the big switch is on. i think they going to use more words than action. >> they've been using that very effectively. and it actually moves markets. just the language. >> he didn't buy one bond. he said three words and spanish and italian yields drops three basis points. >> what were the three words? >> whatever it takes. >> that's good. markets like whatever it takes, i guess. rick santelli, loeet's talk job. that's tomorrow. some noise in this report. early thanksgiving, hurricane sandy. is this rally at the end of the day having anything to do with any anticipation of the jobs report? what are you looking for? >> no, i do
how are you navigating this anticipation of the fiscal cliff and beyond? >> i think ben is on to something in terms of the effectiveness of it. over the last few years, monetary policy was a catalyst to move money into the marke on a capital allocation basis. you saw the jolt in the market, then it plateaued. heading into next yeerar, monety policy becomes part of the base. the jolt is fiscal policy. a little transparency on that front. the big switch is on. i think they going to use more...
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Dec 12, 2012
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cliff and something technical comes out in the unemployment rate drops for some reason. ashley: let's hear from the man himself, mr. bernanke. >> good afternoon. it has been about three and a half years since the economic recovery began. the economy continues to expand at a moderate pace. unfortunately however unemployment remains high. about 5 million people, more than 40% of the unemployed have been without a job for six months or more. millions more who say they would like full-time work an have only found part-time employment or stop looking entirely. the conditions in the job market now show waste of human and economic potential. return to broad-based prosperity will require sustained improvement in the job market which in turn requires stronger economic growth. meanwhile apart from some temporary fluctuations largely reflected swings in energy prices, it is likely to run at or below the federal market committee's 2% objective in coming quarters over the longer term. against a macroeconomic backdrop includes high unemployment and subdued inflation, the fomc will mai
cliff and something technical comes out in the unemployment rate drops for some reason. ashley: let's hear from the man himself, mr. bernanke. >> good afternoon. it has been about three and a half years since the economic recovery began. the economy continues to expand at a moderate pace. unfortunately however unemployment remains high. about 5 million people, more than 40% of the unemployed have been without a job for six months or more. millions more who say they would like full-time...
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Dec 12, 2012
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. >> to show you how seriously we are, up next, the fiscal cliff. it could last forever apparently. the scary prediction is next in the guest spot. [ male announcer ] when was the last time something made your jaw drop? campbell's has 24 new soups that will make it drop over, and over again. ♪ from jammin' jerk chicken, to creamy gouda bisque. see what's new from campbell's. it's amazing what soup can do. woman: what do you mean, homeowners insurance doesn't cover floods? [ heart rate increases ] man: a few inches of water caused all this? [ heart rate increases ] woman #2: but i don't even live near the water. what you don't know about flood insurance may shock you -- including the fact that a preferred risk policy starts as low as $129 a year. for an agent, call the number that appears on your screen. hi, i'm ensure clear... clear, huh? i'm not juice or fancy water. i've got nine grams of protein. that's three times more than me! [ female announcer ] ensure clear. nine grams protein. zero fat. in blueberry/pomegranate and peach. >> every day we are closer to the fiscal cliff. >>
. >> to show you how seriously we are, up next, the fiscal cliff. it could last forever apparently. the scary prediction is next in the guest spot. [ male announcer ] when was the last time something made your jaw drop? campbell's has 24 new soups that will make it drop over, and over again. ♪ from jammin' jerk chicken, to creamy gouda bisque. see what's new from campbell's. it's amazing what soup can do. woman: what do you mean, homeowners insurance doesn't cover floods? [ heart rate...
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Dec 7, 2012
12/12
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but whenever there's job growth, it's something to say thank you for. to be hopeful that we're going to have a better future sglp one of the things that occurs to me as we pivot to discussing the fiscal cliff, in this country the thing we have lacked for 25 years, 30 years, is income growth. the result it seems to me is that we have substituted the growth of debt for the lack of income growth. what would you say we need to do to reduce the debt growth and increase income growth? >> we need wages that grow as fast as inflation or faster than inflation. >> how do you get that? >> well, it is difficult. i think we've got to stop the outsourcing of good paying manufacturing jobs and rebuild those kind of industries. many of them were in urban communities that gave people who may not have had a college education a chance with a good skill to earn a good living. take care of their family. we've seen -- really we've lost so many of those jobs by outsourcing. it was good news this week -- >> when you hear apple saying they're going to build a factory -- >> cong
but whenever there's job growth, it's something to say thank you for. to be hopeful that we're going to have a better future sglp one of the things that occurs to me as we pivot to discussing the fiscal cliff, in this country the thing we have lacked for 25 years, 30 years, is income growth. the result it seems to me is that we have substituted the growth of debt for the lack of income growth. what would you say we need to do to reduce the debt growth and increase income growth? >> we...
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Dec 10, 2012
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going over the fiscal cliff is not good for anyone. it bothers me sometimes if i hear people on both the left and the right entertain this is something that might be good politics. may be good politics for somebody, but it's bad economics for the american economy and more important for people looking for a job and people trying to hold on to a job. >> last question. i want to go back to the premise that you and other republican members of the house would be willing to allow that top tier tax rate to go higher. you know, speaker boehner's argument all this time is that it doesn't effect just those top-earning americans, but it also effects the small business owners in this country. the job creators in this country. >> the speaker's right about that. >> is that valid anymore? >> i'm not willing to -- i don't want to raise those. >> but you're willing to at least talk about it right now? >> they go up automatically. the sun's going to come up in the east tomorrow morning and set in the west. doesn't mean i had a darn thing to do with it c
going over the fiscal cliff is not good for anyone. it bothers me sometimes if i hear people on both the left and the right entertain this is something that might be good politics. may be good politics for somebody, but it's bad economics for the american economy and more important for people looking for a job and people trying to hold on to a job. >> last question. i want to go back to the premise that you and other republican members of the house would be willing to allow that top tier...
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Dec 12, 2012
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we have takes on the morning spesh especially with the all important fiscal cliff. he says he didn't mind when there is gridlock. when the government does something it usually ends up in gridlock anyway. but jiamie dimon says the government has do much. >> we have moral authority around the world. let's just do it. the table is set very well right now. corporations, middle market companies, small business in good shape. 5 million more people working than four years ago. housing turned the corner. let's just keep it going. >> we heard from ceo of gold man sacks saying if this were a business man manner there would be no tripping of the fiscal cliff at the end of the year but also made interesting comments about goldman sacks reputation. here is how he categorized it. >> we started from scratch. no one knew who we were or what we did. and shame on us in hindsight we let other people define us and nobody knew what we attributed to the economy and jobs growth creation. we were slow off the mark because we hadn't really developed that sense. >> for goldman sachs, the pre
we have takes on the morning spesh especially with the all important fiscal cliff. he says he didn't mind when there is gridlock. when the government does something it usually ends up in gridlock anyway. but jiamie dimon says the government has do much. >> we have moral authority around the world. let's just do it. the table is set very well right now. corporations, middle market companies, small business in good shape. 5 million more people working than four years ago. housing turned the...
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Dec 5, 2012
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to pay attention to. >>> super storm sandy and anxiety over the fiscal cliff affecting job growth. adp showing the private sector created 115,000 positions last month. the expectation was about 125,000. it comes ahead of friday's key employment report and to talk about that and more, our senior economics reporter steve leisman joins us from washington. steve, we'll talk about your interview with secretary geithner in a moment but let's talk about those economic numbers. what about today's, what about friday's? >> before i get to the adp number, i have new information i've been able to report on the way down here from new york. that is, be prepared on friday for potentially, especially in the household survey that creates the unemployment number. be prepared for potentially big sandy effects. let me tell you why. we had an early thanksgiving this year. 11/22. the 22nd of the month. what happens on those kind of years is that the bls moves back the survey week from the 12th which is the normal survey week in this case, to the 5th. what was the fifth? it was the week that really the w
to pay attention to. >>> super storm sandy and anxiety over the fiscal cliff affecting job growth. adp showing the private sector created 115,000 positions last month. the expectation was about 125,000. it comes ahead of friday's key employment report and to talk about that and more, our senior economics reporter steve leisman joins us from washington. steve, we'll talk about your interview with secretary geithner in a moment but let's talk about those economic numbers. what about...
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Dec 6, 2012
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cliff deal. he joins us exclusively later on "the closing bell." stay tuned. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... i'm with scottrade. >>> one of the most bizarre man hunts in recent memory is coming to an end in central america, we think. wealth editor robert frank has the latest details on the arrest of john mcafee. >> ye
cliff deal. he joins us exclusively later on "the closing bell." stay tuned. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. you won't just find us online, you'll also find us in person, with dedicated...
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Dec 7, 2012
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>> no one wants to go over the fiscal cliff. worse would be for the president to sign a bad bill. >> all right. alan krueger, chairman of the president's counscil on economi advisers. mr. krueger, nice to see you that month. i'll see you next month, i promise. >> thank you, chuck. >>> trivia time, jim demint's decision to step down 0 means south carolina will have two seats on the ballot in 2014. who was elected the last time both of south carolina's senate seats were on the ballot in the same election? strom thurmond, of course, and the longest serving junior senator perhaps in the history of america, fritz hollings. senator thurmond won re-election and hollings, the form earp governor at the time, won a special to fill a seat left empty when johnston died. we'll be right back. ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's no
>> no one wants to go over the fiscal cliff. worse would be for the president to sign a bad bill. >> all right. alan krueger, chairman of the president's counscil on economi advisers. mr. krueger, nice to see you that month. i'll see you next month, i promise. >> thank you, chuck. >>> trivia time, jim demint's decision to step down 0 means south carolina will have two seats on the ballot in 2014. who was elected the last time both of south carolina's senate seats were...
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ted nugent weighs in on the fiscal cliff fiasco something he said we drove off a long time ago. he writes in "the washington times" social security, medicaid and medicare spending needs to be slaughtered and let's stop the insanity of the right to vote of any american on welfare. once they get off well taer and are self-sustaining they get their right restored. no american on welfare should have the right to vote for tax increases on those americans working and paying taxes to support them. >>> and "the daily show's" jon stewart says maybe we should go off the fiscal cliff. >> back and forth of offers. it's pretty clear the republicans aren't going to come to the table with anything reasonable. i'll be the one to say it, i know it will be disastrous and doom our economy for years to come, let's go over the [ bleep ] cliff. fine. just leave the negotiating tables and send us over the cliff. you know why? at least for a few seconds, it will feel like we're flying. >> all right. that's going to wrap things up for me today. thanks for your time. see you back here tomorrow at 11:00 e
ted nugent weighs in on the fiscal cliff fiasco something he said we drove off a long time ago. he writes in "the washington times" social security, medicaid and medicare spending needs to be slaughtered and let's stop the insanity of the right to vote of any american on welfare. once they get off well taer and are self-sustaining they get their right restored. no american on welfare should have the right to vote for tax increases on those americans working and paying taxes to support...
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Dec 13, 2012
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we've asked in the survey how serious a problem is the fiscal cliff? and you get 68% of the people saying it's a very serious problem, which tells you something when you're talking about something abstract like tax and budget politics which people don't ordinarily pay attention to. they've gotten it. but what we're seeing in this poll, joe, is the after glow of the election. typically when presidents get re-elected, the partisan fighting stops. their numbers rise. the president's approval rating 53%. when you ask, who do you trust to handle the fiscal cliff, it shows how the president has the upper hand. 38% say they trust president obama. that's twice as many as trust speaker boehner, although the 38%, of course, is under 50%. >> 38%. oh, man. but when you look at the potential solutions, does obama have a mandate? we asked that question. you see very big numbers, 68% says he has a mandate to cut taxes for people who earn less than 250k. 65% say he has a mandate to raise taxes on the wealthy while cutting spending. both elements are important. and whe
we've asked in the survey how serious a problem is the fiscal cliff? and you get 68% of the people saying it's a very serious problem, which tells you something when you're talking about something abstract like tax and budget politics which people don't ordinarily pay attention to. they've gotten it. but what we're seeing in this poll, joe, is the after glow of the election. typically when presidents get re-elected, the partisan fighting stops. their numbers rise. the president's approval...
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Dec 11, 2012
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the fiscal cliff was meant to be something nobody wanted to go another and here we are about to go off it. we really need our elected officials to figure this out and come up with a reasonable compromise that keeps our economy growing and gives us certainty about the future so that we can make our plans as business leaders. >> welcome back to the special edition of the "closing bell." dupont stock on the move. 1.5% higher in the after-hours trading session coming on the heels of the news that the chemical giant will issue a $1 billion buyback program and updating its 2012 guidance to the top of the range. chairman and ceo ellen coleman joins me now in a cnbc exclusive. thanks for joining us. >> great to see you as well. >> let me start with the announcement on the share buyback. all we talk about is the idea that taxes are probably going to go higher. you've got dividend taxes probably going to go higher in 2013 as well as capital gains taxes. what motivated a buyback versus a -- a larger dividend or a special dividend as we've been hearing from so many companies today trying to get ah
the fiscal cliff was meant to be something nobody wanted to go another and here we are about to go off it. we really need our elected officials to figure this out and come up with a reasonable compromise that keeps our economy growing and gives us certainty about the future so that we can make our plans as business leaders. >> welcome back to the special edition of the "closing bell." dupont stock on the move. 1.5% higher in the after-hours trading session coming on the heels of...
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Dec 7, 2012
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cliff would just be something that would be disastrous for defense. what you have are all these cuts of sequestration that are not tied to any national security plan or program. these would just be across the board with no plan involved. you have not only the major defense contractors but the entire supply chain involved. >> personalize it for us, dawn. what would it do specifically to your company? >> well, for us, we're a supplier not only to defense but also in the commercial markets, energy, and medical. it has already caused this uncertainty, roadw uncertainty, a reduction in the amount of work we're doing, and it's prevented us from hiring in some of our plants. >> you're holding back, then. you're holding back on hiring, waiting to see how this thing plays itself out. presuming they don't go over the cliff, they come to some agreement, does that mean you would hire more workers? >> right now it's very frustrating that we don't have issues decided here. so, yes, we have plants that can be ramping up to supply in the defense industry. until we kn
cliff would just be something that would be disastrous for defense. what you have are all these cuts of sequestration that are not tied to any national security plan or program. these would just be across the board with no plan involved. you have not only the major defense contractors but the entire supply chain involved. >> personalize it for us, dawn. what would it do specifically to your company? >> well, for us, we're a supplier not only to defense but also in the commercial...
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wealthy taxpayers are maximizing donations ahead of the fiscal cliff. president obama told business leaders it won't being eliminated but they're still talking about it. according to "the wall street journal" fidelity's charitable gift fund brought in 1.2 billion in the first nine months of the year. that is up more than 60% from last year. i know. people are giving. charitiessare even getting in the mix. they're ramping up collection efforts going into the end of the year. ashley: bet they are. tracy: you say what you want how philanthropic we are, it is all about the tax deduction. you take it away, it is a lot about the tax deduction. you take it away, there will be a lot of charities that are --. ashley: i'm cynical. but i agree. of course. >>> ibm hoping to save millions of dollars by changing its 401(k) contributions. how much does it cost the employees though? gerri willis is here on that story next. tracy: as we head out to break, the dow is up 55 points. look at some winners and losers on the s&p 500. avon calling up 5.6%. and genworth financia
wealthy taxpayers are maximizing donations ahead of the fiscal cliff. president obama told business leaders it won't being eliminated but they're still talking about it. according to "the wall street journal" fidelity's charitable gift fund brought in 1.2 billion in the first nine months of the year. that is up more than 60% from last year. i know. people are giving. charitiessare even getting in the mix. they're ramping up collection efforts going into the end of the year. ashley:...
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Dec 11, 2012
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>> the whole country is truly concerned about the fiscal cliff, that is obvious. everybody is sitting back and waiting to see if washington can actually get something done. if political agendas can get it aside and think about the devastation that probably occurred with the fiscal cliff. the spring selling season begins in late january. we have been the bright spot in the economy. our industry are creating jobs, we're coming back in the early stages of a recovery so the fiscal cliff january 1 would have a huge impact on the country, and impact on our business, and we have our fingers crossed and are very hopeful washington can get something done and we'll have to see. but if they don't, there is no question there will be a little bit of time until things settle down when the buyers will hit the sidelines. liz: will it derail the tentative recovery here? >> right now we are three weeks away from this fiscal cliff date and we're still selling houses. i don't think it derails it, but there could be a pause until things get worked out. liz: part of it is being discuss
>> the whole country is truly concerned about the fiscal cliff, that is obvious. everybody is sitting back and waiting to see if washington can actually get something done. if political agendas can get it aside and think about the devastation that probably occurred with the fiscal cliff. the spring selling season begins in late january. we have been the bright spot in the economy. our industry are creating jobs, we're coming back in the early stages of a recovery so the fiscal cliff...
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is the fiscal cliff really a fiscal slope. a downward spiral to something much worse. the possibility of going off the cliff is just 22 days away, and it sounds pretty ominous, but it could be a walk in the part compared with what could happen if lawmakers don't take a closer look at our bigger debt picture and soon. because what they're talking about is peanuts. president obama was in michigan today pushing his fiscal cliff plan. he made the solution sound so simple. >> when you put it all together, what you need is a package that keeps taxes where they are for middle class familiefamilies, w some tough spending cuts on things we don't need, and then we ask the wealthiest americans to pay a slightly higher tax rate. >> but not so fast, mr. president. we need a little more than you're talking about. president obama says his plan reduces the deficit by $4 trillion over ten years. forget the fact it counts war savings which shouldn't count. let's go with the $4 trillion. john boehner said his plan cuts $2.2 trillion over ten years. you shouldn't be comparing those two nu
is the fiscal cliff really a fiscal slope. a downward spiral to something much worse. the possibility of going off the cliff is just 22 days away, and it sounds pretty ominous, but it could be a walk in the part compared with what could happen if lawmakers don't take a closer look at our bigger debt picture and soon. because what they're talking about is peanuts. president obama was in michigan today pushing his fiscal cliff plan. he made the solution sound so simple. >> when you put it...
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Dec 12, 2012
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the fiscal cliff. oh my goodness, the fiscal cliff is now just -- wow, 20 days away. so what are we going to do? some have suggested that we really have to deal with entitlements. and i'm here to agree that we can and we should deal with entitlements. certainly two of those issues, which i really don't think we ought to call entitlements but are fundamental programs here in america for americans, should be dealt with. one that some people want to put on the table really doesn't deal with the deficit at all, and that's social security. so before we even get into this discussion tonight, let's just understand or anybody that cares to take on this issue that in dealing with the fiscal cliff, social security is not the problem. the deficit is not caused by social security. social security has never been and in its present form, will not be part of the deficit issue. it's separate and apart. it is a special program. has its own source of revenue. has its own trust fund and isn't running the deficit at all a
the fiscal cliff. oh my goodness, the fiscal cliff is now just -- wow, 20 days away. so what are we going to do? some have suggested that we really have to deal with entitlements. and i'm here to agree that we can and we should deal with entitlements. certainly two of those issues, which i really don't think we ought to call entitlements but are fundamental programs here in america for americans, should be dealt with. one that some people want to put on the table really doesn't deal with the...
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the fiscal cliff hits. the arguments i just pa about the withholding tables and cutting spending, are not generally talked about. a lot of people deny they can be done. we're confident they can. so the question then becomes what's the impact, where is the impact. and the impact is equity markets end of next week will say these guys aren't going to get it done, we won't have a deal january 1, everything falls apart, that's assuming of course we all get past december 21st. >> so basically week and counting before you think the equity market really drops significantly? >> if we do get a deal done do, we just maintain the 2% that we're stuck in with the high unemployment and not go down? or does it actually allow us to start growing again? is anybody talking growth? >> we're talking growth. >> is it possible to ever get back to that in this environment? >> it is. you have a lot of problems with the piece. >> do you briyou believe if you rote deficit -- two different ways. you either keep the government that you
the fiscal cliff hits. the arguments i just pa about the withholding tables and cutting spending, are not generally talked about. a lot of people deny they can be done. we're confident they can. so the question then becomes what's the impact, where is the impact. and the impact is equity markets end of next week will say these guys aren't going to get it done, we won't have a deal january 1, everything falls apart, that's assuming of course we all get past december 21st. >> so basically...
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cliff. while that's going on and will keep going on for a while, your united states senate is haggling over something that might be even more important to the health of the republic, at least if in the future we want to, i don't know, solve any problems ever. i'm speaking, of course, of that great scourge the filibuster. that senate only rule that allows any senator in the majority or the minority to force legislation to pass not by the standard 51 votes, but by 60. which for most bills means certain death. rarely do 60 senators agree on anything. and over the last few years, the use and abuse of the filibuster, mainly but not exclusively by republicans, has reached record-breaking senate stopping heights. so what do you do? if you are harry reid, lead other telephone democrats in the senate, you try to reform it. and if you're mitch mcconnell, the republican leader who is using it all the time because it is your main kind of power you try to stop reform of it. now there are a couple of plan
cliff. while that's going on and will keep going on for a while, your united states senate is haggling over something that might be even more important to the health of the republic, at least if in the future we want to, i don't know, solve any problems ever. i'm speaking, of course, of that great scourge the filibuster. that senate only rule that allows any senator in the majority or the minority to force legislation to pass not by the standard 51 votes, but by 60. which for most bills means...
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. >> something on all of our minds is the fiscal cliff. i would be remiss if i did not ask you both to weigh in on it in the following way. first, what is going on that we do not understand? number two, what should happen? number 3, what is the rsc going to do to help us get to that sector state, and what should happen? either of you want to chime in on that? >> first of all, if you look at where we are right now, and because of a number of reasons, a few of them going back to the last debt ceiling bill -- i did not vote for the budget control act, and because it did not address the real problem, and that is spending. if you look at the debate, it is mostly a debate about how much in taxes to raise, and the president keeps moving the goal post. he keeps adding more to it. he has an insatiable appetite to spend money and attack other people for it. we are not talking about addressing the real problem. i do not think anybody's taxes should go up. barack obama said three years ago, if you raise taxes in a bad economy, it will make things wors
. >> something on all of our minds is the fiscal cliff. i would be remiss if i did not ask you both to weigh in on it in the following way. first, what is going on that we do not understand? number two, what should happen? number 3, what is the rsc going to do to help us get to that sector state, and what should happen? either of you want to chime in on that? >> first of all, if you look at where we are right now, and because of a number of reasons, a few of them going back to the...
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does this fiscal cliff stuff worry you and the prospect of higher taxes worry you? what do you think? >> i think it worries all of us, doesn't it? i'm one that has faith. i believe something is going to happen. i believe we'll have a deal before it gets over the cliff personally. i'm an optimist. >> you're in farming. you have a guesthouse on your land down in georgia. what do you your customers tell you about the state of the economy? >> we get varying points of view from the discussions we have at the plantation. again, i think the majority of folks that come and, you know, have discussions of all types, especially when it gets to the economy, they are optimists and they feel like the country is getting better, albeit more slowly than we would all like. but i think the overall feeling is that it's going to be okay. just take a deep breath, move forward. >> let's turn to music, shall we, steve, come on. >> if you don't know one of the things he's famous for, rolling stones, 1982 but the most classic piano solo in the history of rock and roll, the one on jessica. ev
does this fiscal cliff stuff worry you and the prospect of higher taxes worry you? what do you think? >> i think it worries all of us, doesn't it? i'm one that has faith. i believe something is going to happen. i believe we'll have a deal before it gets over the cliff personally. i'm an optimist. >> you're in farming. you have a guesthouse on your land down in georgia. what do you your customers tell you about the state of the economy? >> we get varying points of view from the...
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are you really going to tell me we can't settle the stupid fiscal cliff? washington, i want you to tell that to these guys. to their face, without their helmets on. i dare you. and tomorrow, i dare all of washington to not get something done while i'm there
are you really going to tell me we can't settle the stupid fiscal cliff? washington, i want you to tell that to these guys. to their face, without their helmets on. i dare you. and tomorrow, i dare all of washington to not get something done while i'm there
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if we get through that, we got the debt ceiling -- man we can fix the fiscal cliff. we're going to hype -- i can't wait for the debt ceiling now. man is that going to be something, too. that's going to be our next thing. >> constant entertainment. >> oh, talk about it. >> you've got -- you think this is brinksmanship. when is the deadline? i can't wait. >> it's february, right? the beginning of february. >> what's the slogan for that? >> let me come up with that. >> negotiate up. >> we don't want this to end with the fiscal cliff. we got -- and it won't. anyway -- >> how about the s&p 500? >> coming up the hunt for yield at times of uncertainty. institutional investors looking for alternatives to the lower return on fixed income. we're going to talk to the north carolina treasurer and the co-founder of investment firm cambridge associated. >> over president barack obama's first term the federal debt to gdp ratio increased over 19%. it is projected to increase over 20% by the end of his second term. [ male announcer ] you are a business pro. monarch of marketing analy
if we get through that, we got the debt ceiling -- man we can fix the fiscal cliff. we're going to hype -- i can't wait for the debt ceiling now. man is that going to be something, too. that's going to be our next thing. >> constant entertainment. >> oh, talk about it. >> you've got -- you think this is brinksmanship. when is the deadline? i can't wait. >> it's february, right? the beginning of february. >> what's the slogan for that? >> let me come up with...
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anyway, you would be hard pressed to find something who sdn have aen opinion on the fiscal cliff. this weekend, the ahead of the imf said the united states is more vulnerable to its domestic trouble more than anything else happening in the eurozone. christine lagarde says a balanced approach is needed and she says don't kick the can down the road, which is rich coming from a european. >>> european trading the lower this morning. italy's prime minister mario monti, yes, the same one that is famous from all the anti-trust things back in the -- was that the '90s? >> the '90s, yeah. >> monti announcing he'll step down before his term ends. the decision comes after the party of sylvia berlusconi withdrew support for monti's government last week. berlusconi has indicated he will run for leadership again. cnbc's carolin roth will join us from italy with the latest in a few minutes. when i was over there, i had to have the -- all the political signs translated because there's a picture of monti sitting under a beach chair drinking a drink and all the text was send monti to the beach. they
anyway, you would be hard pressed to find something who sdn have aen opinion on the fiscal cliff. this weekend, the ahead of the imf said the united states is more vulnerable to its domestic trouble more than anything else happening in the eurozone. christine lagarde says a balanced approach is needed and she says don't kick the can down the road, which is rich coming from a european. >>> european trading the lower this morning. italy's prime minister mario monti, yes, the same one...
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the fiscal cliff is a very different story. that's about reducing the deficit too fast. >> ifill: you call it an austerity bomb. describe what you mean by that. >> what's happening is that we are scheduled, unless something is done basically to do to ourselves gratuitously what has been happening to some of the european economies. we're going to have substantial spending cuts, substantial tax increases at a time when the dme is still very weak. of course that's a recipe for sliding back into recession. we set ourselves up with the land mine and the road in front of our economy which is not based on anything real, it's just based on our politicalness. >> ifill: speaking of political mess, both sides have what they say are opening gambits on the table. president obama at least his last week which calls for $1.6 trillion in revenues. the republicans came back with their own yesterday. as you looked at each approach, what do you see in that? >> well, i think it's important. i think the reporting has been a little weak on the republ
the fiscal cliff is a very different story. that's about reducing the deficit too fast. >> ifill: you call it an austerity bomb. describe what you mean by that. >> what's happening is that we are scheduled, unless something is done basically to do to ourselves gratuitously what has been happening to some of the european economies. we're going to have substantial spending cuts, substantial tax increases at a time when the dme is still very weak. of course that's a recipe for sliding...
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. >> the longer the white house slow walks this discussion, this economy gets to the fiscal cliff and the more american jobs are placed in recession. >> if something goes wrong, the fed has no arrows left in its quiver. >> we're checking our lists as the "squawk on the street" countdown to christmas continues. ho, ho, ho. ♪ >> andrew ross sorkin is bringing lloyd blankfein on stage. let's take a look. here's goldman sachs ceo lloyd blankfein. >> a number of people have touched on the fiscal cliff, and i wanted to start with that, but in a different way with you this morning, in that you have been active in washington over the past couple of weeks and all this. you've been on the phone with the white house. i've read reports that you were on the phone with the white house earlier this week. just if you could, take us behind the scenes. what goes on on these conference calls with the business community? sort of what do you see actually happening right now? >> i don't want to oversell this. i was on a couple of conference calls that the white house had with myself and other people who
. >> the longer the white house slow walks this discussion, this economy gets to the fiscal cliff and the more american jobs are placed in recession. >> if something goes wrong, the fed has no arrows left in its quiver. >> we're checking our lists as the "squawk on the street" countdown to christmas continues. ho, ho, ho. ♪ >> andrew ross sorkin is bringing lloyd blankfein on stage. let's take a look. here's goldman sachs ceo lloyd blankfein. >> a...
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are you really going to tell me we can't settle the stupid fiscal cliff? washington, i want you to tell that to these guys. to their face, without their helmets on. i dare you. and tomorrow, i dare all of washington to not get something done while i'm there in the flesh. whether a superhero or astronaut wannabe because we're down there with a live show with john mccain, chris van hollen, marco rubio, many others. at the white house, everywhere, because we figure this matters to you.
are you really going to tell me we can't settle the stupid fiscal cliff? washington, i want you to tell that to these guys. to their face, without their helmets on. i dare you. and tomorrow, i dare all of washington to not get something done while i'm there in the flesh. whether a superhero or astronaut wannabe because we're down there with a live show with john mccain, chris van hollen, marco rubio, many others. at the white house, everywhere, because we figure this matters to you.
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. >>> an environment where everyone is still terrified about the potential impact of the fiscal cliff, i want to give you stocks that you can fall back on in a declining market. many strong companies, high yields. let me introduce you to weingarten realty investors, a company i've liked since '85. owns shopping centers all over the u.s. 301 income-producing properties and 11 more in various stages of development. they have a bountiful yield, doesn't have a lot of leverage. company recently sold off the portfolio of industrial assets to become a pure play on retail, and 76% of the rent it collects comes from tenants that are effectively internet resistant. they say it in their own papers. meaning they're as immunized against online competition as it gets. things like supermarkets, restaurants, pet stores, personal care service providers. 93.6% occupancy rate up 200 basis points year-over-year. very bullish guidance. let's check in with drew alexander, the president and ceo of weingarten realty investors. how are you? >> pleasure. great to be here. >> now, we obviously are all very focu
. >>> an environment where everyone is still terrified about the potential impact of the fiscal cliff, i want to give you stocks that you can fall back on in a declining market. many strong companies, high yields. let me introduce you to weingarten realty investors, a company i've liked since '85. owns shopping centers all over the u.s. 301 income-producing properties and 11 more in various stages of development. they have a bountiful yield, doesn't have a lot of leverage. company...
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if we go over a fiscal cliff doesn't that push them into action early january to do something? >> you're absolutely right. if we go off the cliff for even a few days the markets will have a fit, and i think that's probably enough to bring them back and figure this out fairly quickly. >> since you said the markets will have a fit, because i feel like the markets will have a fit if we don't have a deal by the end of next year. dan, what's your take on that? will we see a major selloff in stocks if there's no deal at the end of next week? >> i don't know if it's next week necessarily, but i can say more generally -- >> next week or the next week, right? we're 18 days away. >> certainly running out of time. >> right. >> i don't know if the selloff begins next week or the week after that, but i think certainly, you know, one thing that we can say is that tax rates are going up, and with respect to the capital gains tax rate we have two other instances in modern history in which the capital gains tax was increased, and in both snare quotes december in which it owe cured the capital g
if we go over a fiscal cliff doesn't that push them into action early january to do something? >> you're absolutely right. if we go off the cliff for even a few days the markets will have a fit, and i think that's probably enough to bring them back and figure this out fairly quickly. >> since you said the markets will have a fit, because i feel like the markets will have a fit if we don't have a deal by the end of next year. dan, what's your take on that? will we see a major selloff...
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the practical side those members not at the table negotiating things like the fiscal cliff and the role is something to vote on and so getting back to their districts, some of them say to you having a chance to talk with voters at home is valuable. many of them have fairly packed schedules for events at home but then you have to weigh it against the appearance of people leaving the capitol and does that suggest to people at home they aren't really as nose to the grindstone as they might be? it's an eye of the beholder moment and when you talk about a lame duck congress, here we are with many of these members waiting to have their new colleagues come in this january and tackle some of the big problems and looming deadlines. how do they shake it snout over time we have seen that the lake duck sessions are sometimes not very productive. not a lot going on. but we're certainly heavily focused on it in the last couple of weeks because of the huge problems that need to be tackled. one of the big issues is anybody really talking about what to do with the fiscal cliff other than news conference
the practical side those members not at the table negotiating things like the fiscal cliff and the role is something to vote on and so getting back to their districts, some of them say to you having a chance to talk with voters at home is valuable. many of them have fairly packed schedules for events at home but then you have to weigh it against the appearance of people leaving the capitol and does that suggest to people at home they aren't really as nose to the grindstone as they might be?...
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it would be something like that. but remember, these guys hate the fiscal cliff. you know, it has caused this enormous problem. so the idea of setting up another fiscal cliff six months from now is pretty unappealing. but they'll have to go there. they just haven't quite figured out how to go there yet. >> harold, jump in. to an extent you'd feel the republicans are cornered on their position a bit, especially with this 2% in terms of raising tax rates? how do they get around this and argue back? i don't see it. >> well, i think early on, if you think about a year ago, a little over a year ago, the republicans had a better deal than what's put on the table now. they had a 3 1/2 ratio of spending cuts to tax increases. you're looking at best a 2-1, pure politics. so they've lost that part of the argument. you flip it over and i think these numbers that we're seeing this morning that we've all commented on -- and i happen to agree with steve and david's analysis that at the end of the day, we'll just extend the cuts for middle-class earners and raise it on the top e
it would be something like that. but remember, these guys hate the fiscal cliff. you know, it has caused this enormous problem. so the idea of setting up another fiscal cliff six months from now is pretty unappealing. but they'll have to go there. they just haven't quite figured out how to go there yet. >> harold, jump in. to an extent you'd feel the republicans are cornered on their position a bit, especially with this 2% in terms of raising tax rates? how do they get around this and...
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couldn't the sandy weakness then be followed by fiscal cliff worry weakness. even if we don't go over the cliff. we could go above 8% and all of a sudden -- >> we could. and i'm expecting over 8% today or around 8% or more. and just to explain, there's a couple things going on. it's an earlier thanksgiving. so as i understand it, the bls moved survey week backwards to 11/5 from 111/12. that means it further back into the teeth of sandy's effects. all the peek out ople out of wo couldn't find work if they were looking for it. however the earlier thanksgiving also means retailers hire earlier. so you have these two forces. and zandi said there was two things, plus 86 from sandy, minus 60 or 70 because you have a seasonal effect of earlier retailers. on the jobs number. on the jobs number. so these offset? hiring for retail means a positive. less hiring for -- because of sandy is a negative. could they offset? >> there has to be some netting. there are special effects in the reports you're trying to sort out. and there's also the question of what the the economy
couldn't the sandy weakness then be followed by fiscal cliff worry weakness. even if we don't go over the cliff. we could go above 8% and all of a sudden -- >> we could. and i'm expecting over 8% today or around 8% or more. and just to explain, there's a couple things going on. it's an earlier thanksgiving. so as i understand it, the bls moved survey week backwards to 11/5 from 111/12. that means it further back into the teeth of sandy's effects. all the peek out ople out of wo couldn't...
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want the focus to be on the fiscal cliff. some conservatives did have issues regarding abortion and what it meant for the rights of the disabled while they were in the womb. there were a number of concerns. when i saw bob dole get wheeled in by his wife, former senator elizabeth dole, my heart melted. it meant a lot to people like john mccain, but that does not mean that some of these issues that some of these republicans had were not credible and are not -- we should just say, okay. there's a lot of treaties that have really pretty sounding name but the devil is in the detail. and i think that's what some of them felt when it came to this treaty. >> ana navaro and maria -- go ahead, maria, quickly. >> i hope ana is right and if republicans really want to do this right they will have another chance in the next congress and this is something where americans really need to step up. what happened yesterday was gop fear of the tea party. every single senator that voted against it was most likely up in 2014 except for one. >> okay
want the focus to be on the fiscal cliff. some conservatives did have issues regarding abortion and what it meant for the rights of the disabled while they were in the womb. there were a number of concerns. when i saw bob dole get wheeled in by his wife, former senator elizabeth dole, my heart melted. it meant a lot to people like john mccain, but that does not mean that some of these issues that some of these republicans had were not credible and are not -- we should just say, okay. there's a...
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so look, he can decide, i agree with senator schumer, we're not going to go over the fiscal cliff to use that terminology. something's going to happen before year end. hopefully it's a comprehensive package that solves our nation's problems then later, next year, we deal with tax reforms in a revenue neutral way. what i -- i'll stop. >> chris: hemorrhaginge >> this goes beyond the deal. why should congress give up it's constitutional authority over borrowing? we looked at your record when george w. bush was president. you voted at least three times against increasing the debt limit. why would congress give up that power? >> the bottom line is on debt ceiling, things shifted. i don't agree with bob corker on that issue. it shifted the way it has on taxes. senator mcconnell put on the floor a resolution that said it was his idea, not ours, that let the president raise the debt ceiling. it's money congress has already spent and let congress by two-thirds override it. he thought we democrats would run from that scared as could be. within a half hour we had 51 votes, we called his bluff a
so look, he can decide, i agree with senator schumer, we're not going to go over the fiscal cliff to use that terminology. something's going to happen before year end. hopefully it's a comprehensive package that solves our nation's problems then later, next year, we deal with tax reforms in a revenue neutral way. what i -- i'll stop. >> chris: hemorrhaginge >> this goes beyond the deal. why should congress give up it's constitutional authority over borrowing? we looked at your...
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to talk about, maybe something to vote on a resolution of a resolution to avoid us going over the fiscal cliff. well after you will wanted to sound off on follow us on twitter at bpshow or facebook.com/bill press show. here we go peter ogburn and dan hinning. >> happy monday. >> fill backert has the phones. cyprian bowlding on the video camera. speakinging of video camera? peters his. >> dan has his peyton manning jersey. >> no. no. no. no. no. that would be his more astute brother 5 two points against the saints yesterday. take that. put it in your pocket and smoke it. >> what's a pate manning jersey? >> what else did you do? >> i look forward to next hour when you will wear your archie manning jersey. >> i would be all right with that. >> notes on people's backs they didn't know about. >> yeah. maybe 3rd grade. >> you know newt gingrich he has to do something to try to keep himself relevant, although nothing really works. to show you how eager newt is to keep in the news, yesterday, he stoops to talking about 2016 and hillary clinton. >> that's when you've got nothing else to say. righ
to talk about, maybe something to vote on a resolution of a resolution to avoid us going over the fiscal cliff. well after you will wanted to sound off on follow us on twitter at bpshow or facebook.com/bill press show. here we go peter ogburn and dan hinning. >> happy monday. >> fill backert has the phones. cyprian bowlding on the video camera. speakinging of video camera? peters his. >> dan has his peyton manning jersey. >> no. no. no. no. no. that would be his more...
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waiting for news on the fiscal cliff and what ben bernanke if he have anything to say about the fiscal cliff after two-day meeting by federal reserve. they are also watching for bond action. i want to touch on something you were saying. mcdonald's, a a contributor to the dow strength. these are contributing, very moderate strength. we are seeing strength and materials, healthcare industrials, that where mcdonald's trades, they are lower today. one of the reasons we were talking about same store sales and mcdonald's being stronger, that is a boost to its stock. but we have seen a pull back, most notably the gap before pressure. disappointed and a number of retailers did. that number is a mixed as we head toward thursday. the retailers on the retail sales figures for the month of november. quickly, touch on one deal today. honeywell making acquisition of intermac. $10 a share. honeywell, it wasn't unexpected. started taking a leg down on that. brian back to you. >> mary, thank you. >>> part of what is giving the market move today along with renewed confidence perhaps. in the chinese econ
waiting for news on the fiscal cliff and what ben bernanke if he have anything to say about the fiscal cliff after two-day meeting by federal reserve. they are also watching for bond action. i want to touch on something you were saying. mcdonald's, a a contributor to the dow strength. these are contributing, very moderate strength. we are seeing strength and materials, healthcare industrials, that where mcdonald's trades, they are lower today. one of the reasons we were talking about same store...
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Dec 11, 2012
12/12
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. >> christin, something else on the fiscal cliff. a drop in confidence and zero u.s. economic growth with no agreement on this fiscal cliff and indeed a ripple effect in the eurozone and elsewhere. do you think the politicians understand the kind of seriousness of the game that they're playing at the moment? >> i think they do and a good sign is notice in the last day or two, you haven't been hearing as much come out of either members of congress or the white house. president obama right now is i think on the road in detroit. gave a speech today about the economy. but you're seeing a little bit less of the sort of back and fort we saw a weeking a with tim geithner putting out a plan and republicans releasing a letter publicly. i think negotiations of this kind best if they're happening without a lot of the public political posturing. i think that's the direction you have seen things go in the last few days so i'm hoping that's a good sign for things and taken seriously. >> i hope you're right. it is childish, i think. finally for you, gary. this ongoing battle blowing
. >> christin, something else on the fiscal cliff. a drop in confidence and zero u.s. economic growth with no agreement on this fiscal cliff and indeed a ripple effect in the eurozone and elsewhere. do you think the politicians understand the kind of seriousness of the game that they're playing at the moment? >> i think they do and a good sign is notice in the last day or two, you haven't been hearing as much come out of either members of congress or the white house. president obama...
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Dec 5, 2012
12/12
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i guess the fiscal cliff fear has people not shopping for a mattress. >> something like that. you're depressing me. lift my spirits with brown foreman. >> we didn't booze up before the thing but we probably could have. the stock is not moving today. not only is it fun to talk about spirits, but second quarter net income rose 9.8%, raising full year guidance. margins were higher. it's an ig nonomonous number. >>> your biggest corporate story of of the day involves citi group. bank saying it will slash 11,000 jobs in order to save more than $1 billion a year. let's talk more about it with glen shore. he has a buy rating on citi with a $41 price target. glen, stock already at $38 and change. will it take this move or more to get to your target of $41? >> we're moving quickly. i think you had an initial pop on it today but long story short, people have understood they had differentiated growth outside the u.s. they have capital building. they have less mortgage related exposure than some of the other banks. this was the other piece of the story that people really wanted to see lit
i guess the fiscal cliff fear has people not shopping for a mattress. >> something like that. you're depressing me. lift my spirits with brown foreman. >> we didn't booze up before the thing but we probably could have. the stock is not moving today. not only is it fun to talk about spirits, but second quarter net income rose 9.8%, raising full year guidance. margins were higher. it's an ig nonomonous number. >>> your biggest corporate story of of the day involves citi...